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The Spectacle Blog
The Harvard economist Edward Glaesary makes a key point about the recent calls for increased regulation over the financial sector: if the government fails spectatularly at regulating the first time around (the financial crisis), why would you then want to increase the government's involvement in regulation? It would be better to implement regulations that work the first time around, not more regulations.
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More Blog Posts by Joseph Lawler
http://spectator.org/blog/2009/06/09/doubling-down-on-failure
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Tim| 6.9.09 @ 12:40PM
In Soviet Union, Bank robs you!
Sean| 6.9.09 @ 2:57PM
The real damage has been government involvement in propping up all these failed business and money that it is costing us citizens.
brooksanne| 6.10.09 @ 8:55AM
People have to thoroughly understand the nature of the first failure -- the "great society" underpinnings of the first round of regulations.
Then they can reject social planning through government "bright ideas" and stick to what really works, which is letting people make rational decisions based on likely (possibly negative) outcomes.